“Without you, we’d just be Netflix”, Fox Sports chief executive Eric Shanks told advertisers this week in lower Manhattan, where a succession of Fox executives touted their programming — and took jabs at the video streaming pioneer.
Shanks’s quip spoke to a dramatic turn of fortunes at Netflix as its once-raging subscriber growth reverses and its stock price tumbles. An untouchable Hollywood disrupter had been transformed into a punchline.
Wall Street’s change of heart over Netflix is now radiating uncertainty throughout Hollywood. A new age of austerity may be emerging in the streaming wars.
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